'Go woke, go broke': Billionaire Chamath Palihapitiya thinks Northeast cities like NYC and Boston are hemorrhaging income due to political ideology — while the South keeps booming
Story by Vishesh Raisinghani •
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Billionaire blames wokeness for struggle in cities
© Brian Ach / Getty Images
Chamath Palihapitiya, the CEO of Social Capital, is one of the more controversial figures in the investing world.
Once known as the "SPAC King," he faced criticism for his comments on human rights abuses in China and was also sued for misleading investors.
In June of 2023 he tweeted out a screenshot of a Bloomberg article that said six southern states had contributed more to U.S. gross domestic product than the northeast corridor of Washington-New York-Boston for the first time in history.
But it was his accompanying caption that sparked a heated debate: “Go woke, go broke,” he said, implying that the ongoing culture war and economic policies of northeastern states had facilitated the migration of wealth and economic power to the South.
While tweeps (or Xers) weighed in with their own thoughts — including fellow billionaire Mark Cuban — here’s what the numbers show is really going on.
Wealth migration taking place
https://www.msn.com/en-us/travel/news/go-woke-go-broke-billionaire-chamath-palihapitiya-thinks-northeast-cities-like-nyc-and-boston-are-hemorrhaging-income-due-to-political-ideology-while-the-south-keeps-booming/ar-AA1mcqnu?ocid=msedgdhp&pc=U531&cvid=2a49676d853c4a9cb03114bdefe7ab27&ei=21
